Last week's filings with the Securities and Exchange...

SEC REPORT

February 6, 1989|By States News Service

Last week's filings with the Securities and Exchange Commission involving companies based or with operations in Florida include:

- TEXAS AIR CORP., Houston. The Scandinavian Airlines System has boosted its stake in Texas Air Corp. to 9.9 percent, the maximum amount it may acquire under an agreement between the two airlines. SAS, based in Stockholm, Sweden, acquired 802,000 common shares between Jan. 30 and Feb. 1 for $12.3 million, and now holds 3.9 million shares in the Houston-based airline. SAS also has nominated Jan Carlzon as its representative to the Texas Air board; the nomination was accepted effective Jan 26.

- RYLAND GROUP INC., Columbia, Md. Ryland Group Inc. bought back $25 million of its debentures for about face value on Jan. 26. Ryland issued the debentures in its acquisition of M.J. Brock Corp. in 1986.

- EG&G INC., Wellesley, Mass. Certain shareholders of EG&G Inc. may sell from time to time a total of up to 2.2 million common shares worth $65.4 million. Selling shareholders, including Raymond G. Yates and Cenco Capital Co., acquired their shares in exchange for holdings in Astrophysics Research Corp. and Scanray International Inc., which became EG&G subsidiaries in October. EG&G manufactures electronic and nucleonic systems, instruments and components.

- AMERICAN TELEPHONE AND TELEGRAPH CO., New York. American Telephone & Telegraph has completed its acquisition of Paradyne Corp. of Largo, having purchased more than 95 percent of Paradyne's shares. About 22 million shares were tendered to AT&T at $10.25 each, or a total of $250 million. AT&T will merge Paradyne's existing data communications operations with it own, and the new unit will be headed up by John Mitcham, Paradyne's president.

- VIDEO PROMOTIONS INC., Miami Springs. Video Promotions Inc., a start-up company that hopes to sell up to 15 million units in an initial public offering worth up to $1.5 million. The company said it will sell the units at 1 cent each. The units contain one common share and three common stock purchase warrants. The A warrants are exercisable at 1 cent, the B warrants at 3 cents and the C warrants at 5 cents. Video Promotions will use the proceeds to make possible acquisitions or investments in other concerns. Because Video Promotions has no operating history and is not required to explain exactly how the proceeds will be spent, investors consider it risky to invest in such a company.

- BORMAN'S INC., Detroit. GREAT ATLANTIC & PACIFIC TEA CO. INC., Montvale, N.J. Great Atlantic & Pacific Tea Co. Inc., which has received 1.7 million common shares and 780,959 class B shares as part of its $27-a-share tender offer for Borman's Inc., now owns 95 percent of the Detroit-based supermarket operator. In another filing, Great Atlantic and Borman's announced that Borman's board has been reduced from 10 directors to nine and that five A&P designates were named to the board. The five new representatives are Fred Corrado, James Madden, Joseph H. McCarthy, Aaron Malinsky and Peter O'Gorman. The four continuing directors are Paul Borman, Marvin L. Biltis, Robert E. Epstein and Ted J. Simon.

- IMPERIAL INDUSTRIES INC., Miami. A group including the vice president of Imperial Industries Inc. has acquired a 13.1 percent stake in the company. The group, which includes Maureen P. Ferri, the estate of Eugene C. Ferri Jr. and Investors Financial Services Inc., now holds 656,981 common shares in the holding company for electrical supplies and light fixtures.

- FOOTE CONE & BELDING COMMUNICATIONS INC., Chicago. A French advertising concern has acquired a 19.9 percent stake in Foote, Cone & Belding Communications Inc., a Chicago advertiser. As outlined in a Jan. 1 master alliance agreement, Paris-based Publicis Communication exchanged 350,000 of its own common shares for 2.1 million FC&B common shares. The companies will now place representatives on each other's boards and participate in joint advertising and media ventures in the United States, Europe and the Middle East.

- TEXACO INC., White Plains, N.Y. Carl C. Icahn has increased his stake in Texaco Inc. by more than 1.8 million common shares to 17.3 percent. Icahn, who has been battling with Texaco management for the last year over a restructuring plan, acquired 1.2 million common shares, while Unicorn Associates Corp., an Icahn company, bought an additional 649,000 shares. The investors bought the stock on Jan. 19 and Jan. 20. at $54.25 to $55.75 a share. Icahn now holds 42.3 million Texaco shares.

- CAESARS WORLD INC., Los Angeles. GOLDEN NUGGET INC., Las Vegas, Nevada. Golden Nugget Inc. reduced its stake in Caesars World Inc., the Los Angeles-based casino operator, to 3.4 percent. Golden Nugget sold 731,000 common shares between Jan. 20 and Jan. 27 for $29.62 to $31.36 each, or a total of $21.8 million.

- PACIFIC INVESTMENT GROUP INC., Miami. PARLUX FRAGRANCES, New York. A group led by the chairman of Miami-based Perfumania Holding Corp. is seeking control of Parlux Fragrances of New York City. Ilia Lekach and Pacific Investment Group Inc., controlled by Lekach, have requested a special shareholders meeting to elect their own slate of directors. They hope to schedule the meeting for the beginning of February. Lekach controls 22.14 percent of Parlux or 428,446 common shares, while Pacific Investment holds 114,932 shares or a 5.93 stake.The group owns a combined stake of 30.53 percent.